A ________ is owned by one person and does not need to register with the state.

Name: A ________ is owned by one person and does not need to register with the state.
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Question

Quizplus · Accepted Answer

A sole proprietorship is owned by one person, who bears all the risk and responsibility of the business. It does not need to register with the state, as it is not a separate legal entity, and the owner reports profits and losses on their personal tax return.

A ________ Is Owned by One Person and Does Not